Atlantic Wind & Solar Receives Solar Project Approval

Atlantic Wind & Solar, with affiliate and co-developer Atlantic Energy Ecuador, says it has received notice from the National Electricity Council of Ecuador (CONELEC) confirming that two initial photovoltaic projects in the province of Esmeraldas may proceed under Ecuador's feed-in tariff program.

The $150 million plants will be built in two phases. They will produce a total of 58.43 MW and will be located in the towns of Lagarto and Tonchigue.

Atlantic says it provided approximately $2 million in warranties required to secure the power purchase agreements – one of the conditions for CONELEC approval.